Life
The Academy’s Life Practice Council (LPC) is dedicated to providing policymakers and regulators with unbiased technical expertise.
From crafting principle-based regulatory frameworks to optimizing risk-based capital strategies, the LPC is at the forefront of innovation in the life insurance industry.
Capital
Life and annuity capital adequacy and recommendations to improve life Risk-Based Capital (RBC) requirements.
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Financial Reporting
Life insurance and annuity topics that involve financial reporting, with an emphasis on GAAP and international issues.
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Life News
Health Committee News
ASB Adopts Final Revision of ASOP No. 5
The ASB recently adopted a final revision of ASOP No. 5, Incurred Health Claim Liabilities. This ASOP provides guidance to actuaries when estimating or reviewing incurred claims when preparing or…
Topics: ASB News
Date Published: 04/27/2017
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Life Committee News
ASB Approves Exposure of Proposed ASOP on Principle-Based Reserves for Life Products
The ASB approved an exposure draft of a proposed new ASOP titled Principle-Based Reserves for Life Products. The proposed ASOP will apply to actuaries when performing actuarial services on behalf of…
Topics: ASB News
Date Published: 04/14/2017
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Life Resources
Comment / Letter
Comments on Proposed IUL Drafting Group
The Life Products Committee submitted a comment on the exposed question on nonforfeiture clarifications. In particular, the Committee offered support of the formation of a drafting group to consider…
Comment / Letter
Comments on VM-22 In-Force Questions
The Annuity Reserves and Capital Subcommittee submitted a comment letter in response to the Life Actuarial (A) Task Force’s VM-22 In Force Questions exposed during the 2025 Fall National Meeting
Presentation
C1 Subcommittee Presents on CLOs
The C-1 Subcommittee provided an update to NAIC’s Risk-Based Capital Investment Risk and Evaluation (E) Working Group on the collateralized loan obligation (CLO) Comparable Attributes
Comment / Letter
Comments on Illiquidity Spreads in PBR Calculations
The Annuity Reserve and Capital Subcommittee submitted comments on principles for applying an Illiquidity Spread in PBR calculations to the NAIC’s Life Actuarial (A) Task Force.7702, Valuation Rate, and Applicable Federal Interest Rate Calculator
The Academy’s Tax Committee has developed general reference spreadsheets to assist actuaries who wish to explore the calculation of the Internal Revenue Code (IRC) Section 7702: Minimum Interest…
Comment / Letter
Comments to Cayman Islands Monetary Authority
The Academy’s Risk Management and Financial Reporting Council and Life Practice Council submitted a joint comment letter to the Cayman Islands Monetary Authority in response to a recent…
Policy Paper
Fixed Indexed Annuities—Product Mechanics and Risk Management
A new paper from the Academy’s Life Experience Committee offers actuaries an overview of fixed indexed deferred annuities, covering product features, underlying investments, modeling assumptions,…
Comment / Letter
Longevity Reinsurance C2 Proposal Comments
The Academy’s Longevity Risk Task Force (Task Force) provided responses to questions posed by the NAIC Longevity Risk (E/A) Subgroup regarding a framework for the RBC C-2 charge for longevity…
Topics: Life
Comment / Letter
Comments to PRT Reinvestment Guardrail Exposure
The Life Practice Council’s Annuity Reserves and Capital Subcommittee submitted comments to the Life Actuarial (A) Task Force on a recent exposure requesting discussion on the VM-22 investment…
Comment / Letter